Bulls return as govt keeps date with GST
DNMUM390886 | 6/20/2017 | Author : DNA Money Correspondent | WC :343
Mumbai : Indian markets witnessed a smart recovery as the bullish sentiment got fortified on positive developments on the domestic front. Both the Sensex and Nifty hit fresh intra-day highs following goods and services tax (GST) headway.
While the BSE Sensex made a fresh closing high at 31311.57, jumping 255.17 points, or 0.82%, Nifty reclaimed 9600 level ending at 9657.55, by gaining 69.50 points, or 0.72%.
Banking counters witnessed a flurry of buying on hopes of resolution of non-performing assets (NPAs) issue after the Reserve Bank of India (RBI) asked lenders to initiate bankruptcy proceedings against large defaulters. The rally was led by State Bank of India, Axis Bank, HDFC Bank and ICICI Bank which climbed up to 1.9
Read full story
4%.
Adani Ports (3.05%), PowerGrid (1.67%), L&T (1.59%), Reliance Industries (1.53%), TCS (1.44%), Hero MotoCorp (1.39%), ITC Ltd (1.35%), Asian Paint (0.92%), HDFC (0.89%), Cipla (0.39%) and Bajaj Auto (0.39%), also emerged as winners.
The GST Council relaxed rules for return filing for businesses for the first two months of the rollout of the new indirect tax regime even as it stuck to the July 1 launch date, ironing out any wrinkles of worry.
The sectoral front on BSE saw metal jumping 1.89%, followed by banking that surged 0.96%, capital goods rising 0.74% and FMCG ending up 0.72%. Oil & gas (0.45%), power (0.43%), PSU (0.29%) and auto (0.25%) also moved up.
Moreover, the mid-cap index rose 0.07%, while small-cap index was down 0.08%.
Positive global cues emerging from other Asian markets that ended higher in tune with weekend record closing at the Wall Street propped up the markets here. A firm opening at European shares responding to to president Emmanual Macron’s centrist party win in French parliamentary elections, buoyed trading sentiments. Key indices in London, Germany and Paris ended with gains. Asian markets saw Japan’s Nikkei rising 0.62% and Hong Kong 1.16%.
Copyright restricted. Under license from
www.dnasyndication.com
More on BUSINESS & ECONOMY
 
The silent cheerleaders
DNMUM391183 | 6/25/2017 12:00:00 AM | Author : Dhanishta Shah | WC :611
They may not always be on the top of their game. They may not seem dynamic or extremely talented. They might work hard, but that s no guarantee that they ll exceed their targets. But their presence at the workplace spreads cheer and joy. The Workplace redefined
DNMUM391228 | 6/25/2017 12:00:00 AM | Author : Shai S | WC :664
With digital seeping into every pore of our corporate selves, there’s no escaping the advancement of technology. But can these truly make a workplace more effective? As collaboration and engagement among employees becomes ever so crucial, Facebo The ethical white gold
DNMUM391069 | 6/23/2017 12:00:00 AM | Author : Priyanka Golikeri | WC :491 Imagine an exquisite collection of pendants, earrings and necklaces crafted from an ivory lookalike and beautifully framed within white, yellow and rose gold settings, and accentuated by sparkling diamonds, blue sapphires, red rubies and pink tour GoAir plans to ramp up fleet size to 37
DNMUM391082 | 6/23/2017 12:00:00 AM | Author : Shahkar Abidi | WC :304 Mumbai: GoAir, the Wadia Group-promoted low-cost carrier (LCC) which aims to feature among the top three airlines in the country in next couple of years, plans to take its fleet size to 37 aircraft by March next year, from 23 at present. The airl
Devendra Fadnavis DNMUM453638 Matin Rey Tangu DNMUM453649
|
